* This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine
MOSCOW, April 25 (Reuters) - Russian President Vladimir Putin has reminded prosecutors that seizing assets and turning them over to state ownership is only justified in cases where failing to act might jeopardise Russia's national security.
Many assets in Russia have changed hands in the last two years. Hundreds of foreign companies left Russia after Moscow sent its troops into Ukraine in February 2022, in some cases selling cheaply to local management.
Moscow has taken temporary control of assets owned by
several Western companies including Fortum,
Carlsberg
The number of cases where prosecutors seize assets through
the courts, including those related to Russia's defence
industry, has increased, with some related to privatisations
that are around 30 years old.
More than 1 trillion roubles' ($10.9 billion) worth of
strategic enterprises and assets were transferred to state
ownership by Russian courts last year, Prosecutor General Igor
Krasnov said in March.
"Recently, law enforcement agencies have initiated a number
of cases to return some assets to state ownership," Putin told a
Moscow business forum.
"I would like to stress: we are not talking about a
privatisation review, but about cases when the actions or
inaction by the owners of enterprises and property complexes
cause direct harm to the country's security and national
interests.
"The seizure of business is justified only in the situation
I have just described."
State property was widely auctioned off in the 1990s when
so-called oligarchs amassed huge fortunes, creating a vast gulf
between the super-rich and ordinary Russians.
But, though some of those deals may have taken place
without federal oversight, Putin said combing through deals from
that time was not necessary if businesses were operating
successfully.
"Claims against current owners of assets are inappropriate,
especially for those who work successfully, solve social issues
and help ensure national security," Putin said.
The finance ministry, meanwhile, has listed about 30
companies in which the state may reduce its shareholding, while
keeping a controlling stake, as it seeks to foster more domestic
private investment and bolster budget revenues.
($1 = 91.8240 roubles)
(Reporting by Anastasia Lyrchikova, Darya Korsunskaya, Vladimir
Soldatkin; Writing by Alexander Marrow; Editing by Mark
Trevelyan)